The new identity was unveiled by Shri. B. C. Khatua, IAS, Chairman, Forward Markets Commission
Mumbai, October 8, 2008: National Multi-Commodity Exchange of India Ltd. (NMCE), the country's first online demutualised, multi-commodity exchange, unveiled its new identity today. The new identity was unveiled by Shri. B. C. Khatua, IAS, Chairman, Forward Markets Commission
Mr. Kailash Gupta, Managing Director, NMCE and Mr. Sudip Bandyopadhyay, Director, NMCE were also present on this occasion.
The unveiling of the new identity, comes at the back of NMCE receiving approval from the Ministry of Consumer Affairs for Reliance Money’s proposed acquisition of stake in the exchange.
Mr. B.C. Khatua, while unveiling the new identity wished NMCE all the very best and stated, “The new corporate identity is not a mere change in the logo but a reflection of the inner change in approach and mindset to take upon new challenges to be a vibrant and leading Commodity Exchange of the future.”
“It was important for us to review what our members and clients think of the exchange. The objective has been to make it contemporary, forward looking and relevant. In addition to launching a new identity, we have also moved our Corporate Office to Mumbai, and are looking at recruitments at various levels to further strengthen our management,” said Mr. Kailash Gupta, Managing Director, NMCE.
The exchange’s current logo is being replaced with a new and bold looking ‘NMCE’ written in red with three red and blue arrows on its top right hand side, signifying continuous forward movement.
“With a renewed focus on growth, NMCE is aggressively looking at not only revamping the entire working of the exchange but also changing the way the exchange is looked at. We not only plan to expand our membership network and commodity base offered, but also plan to reach out to the huge investor base in the commodity space through various new schemes and tie-ups,” said Mr. Sudip Bandopadhyay, Director, NMCE.
The exchange through its new identity is defining itself as one which has a bold outlook towards the future. The colour ‘Red’ in the logo depicts dynamism and an innovative approach to continuously be on the look-out for newer opportunities in today’s ever changing business environment; while the colour ‘Blue’ which stands for depth, denotes the trust and faith of its members, clients and all other stakeholders.
NMCE is the country's first online de-mutualised, multi-commodity exchange with a nationwide reach. It not only revived futures trade electronically in the commodities in India after a gap of 41 years but also integrated the centuries old commodity market with the latest technology. NMCE has 300 members with more than 30,000 clients and is present across 14 states in India.
The launch of the new corporate identity comes at a time when the exchange is preparing to announce a series of exciting business initiatives, such as starting an agri-spot exchange and launching of currency futures amongst others. The new identity is sure to kick-off a fresh chapter not only for NMCE but also the Indian commodities markets.
About National Multi-Commodity Exchange of India
www.nmce.com
The National Multi-Commodity Exchange (NMCE) was launched on November 26, 2002 as the country's first online demutualised, multi-commodity exchange with nationwide reach. It is promoted by the country's largest warehousing corporation CWC along with NAFED - the country's apex body of marketing cooperatives, Punjab National Bank, the second largest public sector bank and the Government of Gujarat. NMCE not only revived futures trade electronically in commodities in India after a gap of 41 years, but also integrated the centuries old commodity market with the latest technology.
NMCE offers an electronic platform for futures trading in plantation, spices, food grains, non-ferrous metals, oilseeds and their derivatives and is backed by compulsory delivery based settlement to ensure transparent and fair trade practices. It is the first to introduce efficient clearing and settlement system backed by adequately capitalised corporate brokerage houses in commodities with sound and reliable transferable warehouse receipt system, using appropriate communication channels.
For further details –
Poonam Gupta NMCE +91-9825017610
B. N. Kumar Concept Communication +91-9321048332mailbnk@gmail.com
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